FxWirePro: GBP/USD gaining momentum for a move towards of 1.3800 level

• GBP/USD hit 3-day high   on Monday as weaker  dollar offset brewing political crisis in United Kingdom.

• The U.S. dollar  dipped  at the start of a week in which there will be several key data releases out of Washington, including retail sales, inflation and Wednesday's delayed jobs report.

• British Prime Minister Keir Starmer’s Chief of Staff, Morgan McSweeney, resigned on Sunday, taking responsibility for advising the appointment of Peter Mandelson as U.S. ambassador despite his links to Jeffrey Epstein.

• Polls show Starmer’s popularity has slumped after several U-turns, with some in his party questioning his judgment and leadership future.

• The Bank of England held rates steady last week in a narrow 5–4 vote and said borrowing costs could fall if inflation keeps easing.

• Data this week, including January retail sales and December GDP, could help shape monetary policy expectations.

•   Immediate resistance is located at 1.3678(38.2%fib), any close above will push the pair towards 1.3731(Feb 4th high)

•  Strong support is seen at 1.3583(SMA 20) and break below could take the pair towards 1.3537(50%  fib).

  Recommendation: Good to buy  around 1.3650 with stop loss of 1.3580 and target price of 1.3800